Most Popular
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Yoon set for talks with Marcos in Philippines
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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Can Jennie break the K-pop solo artist slump?
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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Firefighters’ 3,000 won meals spark nutrition concerns
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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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[Graphic News] New duty-free shops to create jobs and investments
The Korea Customs Service expects that new duty-free businesses in Seoul and elsewhere will create 5,000 new jobs and 1 trillion won in investments.The KCS announced last Friday that it would issue four additional licenses to operate duty-free shops in Seoul in a bid to meet rising demand from Chinese tourists for non-taxable goods.Duty-free stores, mostly run by retail giants such as Lotte Group, posted a combined 9.2 trillion won ($8 billion) in sales last year, with an average growth of 15.1
May 1, 2016
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[Photo News] Asiana safety control tower
The safety and security chiefs of Asiana Airlines and its affiliates Air Busan and Air Seoul signed an agreement last Friday to establish an overarching airline safety control body. From left, Air Seoul’s Lee Han-yong, Asiana Airlines’ Akiyoshi Yamamura and Air Busan’s Chung Chang-jae. (Asiana Airlines)
May 1, 2016
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Shinsegae, Doosan to open duty-free shops in mid-May
Shinsegae and Doosan, which won licenses to operate their first tax-exempt retail outlets in Seoul last year, will open their new duty-free stores in mid-May. The two duty-free operators plan to open their stores on May 18, though the date may vary by a day or two, depending on the stores’ preparation progress, the companies said Sunday. The main Shinsegae Department Store in central Seoul (Yonhap)Shinsegae has so far secured a number of global luxury brands including Gucci, Saint Laurent, Botte
May 1, 2016
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[Photo News] Chinese holiday shoppers flock to Korean duty-free stores
CHINESE-PACKED DUTY-FREE SHOP -- Hundreds of Chinese tourists shop at a major duty-free store in Seoul on Sunday morning. Around 63,000 Chinese tourists are estimated to be visiting Korea during the Chinese Labor Day holiday (April 30 - May 2). (Yonhap)
May 1, 2016
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LG's cosmetics brand SU:M37 opens first store in China
SU:M37, a natural cosmetics brand operated by Korea’s LG Household & Health Care, on Sunday said it has opened its first store in China in Hangzhou Linping Intime Department Store.Launched in 2007, SU:M37 is a skin care cosmetics brand that utilizes naturally fermented ingredients in its products. It is considered one of LG H&H’s most successful brands, with net sales growing by about 73 percent on-year to 190 billion won ($170 million) in 2015.The new SU:M37 store in Hangzhou Linping Intime Dep
May 1, 2016
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‘Kimchi food truck’ to welcome Chinese tourists
Korea’s Ministry of Agriculture, Food and Rural Affairs will be rolling out its “kimchi food truck” in Seoul and Jejudo Island this week, with the aim of promoting kimchi to foreign tourists. The event targets the estimated 63,000 Chinese tourists who are visiting Korea over the Chinese Labor Day holiday (Apr. 30 to May 2), the ministry said. (123RF)The food truck will offer various kimchi-based dishes, including kimchi fried rice, kimchi pancakes, kimchi dumplings and kimchi egg rolls for some
May 1, 2016
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Korea's top shipbuilders clinch zero deals in April
South Korea's top three shipbuilders failed to clinch a single deal in April, industry data showed Saturday, casting concerns that the firms may roll out possible restructuring of their workforces.Local shipbuilders only managed to win five construction deals over the first four months of this year, which is only around 5 percent of the average amount posted in previous years.Daewoo Shipbuilding & Marine Engineering Co. and Hyundai Heavy Industries Co., failed to win any deals in April. Samsung
April 30, 2016
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Samsung keeps throne in Q1 LCD TV sales amid falling shipments
Samsung Electronics Co. stood as the No. 1 seller of liquid crystal display (LCD) televisions in the first quarter of 2016, data showed Saturday, despite its shipments plunging amid the rise of Chinese rivals.The South Korean tech giant sold 10.5 million units of LCD TVs in the January-March period, far outpacing other global rivals, the data compiled by industry tracker WitsView showed. Samsung's shipments, however, marked a 34.4-percent on-quarter drop.LG Electronics Inc., Samsung's smaller So
April 30, 2016
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Asiana Airlines to sell non-core assets worth about 400 bln won
Asiana Airlines Inc., South Korea's second-largest flag carrier, said Friday that it decided to sell non-core assets worth about 400 billion won (US$351.1 million) as part of its efforts to strengthen its financial health. Asiana held a board meeting earlier in the day and decided to sell off its 100 percent stake in Kumho Terminal and 50 percent stake in a hotel and office operator based in Vietnam for about 270 billion won and 123 billion won, respectively, the company said.The move is in line
April 29, 2016
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Creditors to decide on Hanjin Shipping debt on May 4
Creditor banks of Hanjin Shipping will decide next week whether to restructure the company’s debt and initiate a corporate rehabilitation program, local reports said Friday. Seven lenders, led by state-run Korea Development Bank, held a meeting Friday afternoon and agreed to decide by May 4, Yonhap News reported, citing unnamed sources from the banks. The seven are KDB, Export-Import Bank of Korea, Nonghyup, KB Kookmin, KEB Hana, Woori and Pusan Bank. (Yonhap)Korea Credit Guarantee Fund, a stat
April 29, 2016
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[EYE Interview] BAT Korea CEO confesses love for ‘dynamic Korea’
The chief executive of British American Tobacco Korea has some pretty firm beliefs on what should and should not be done. And one of the things that he believes should never be done is working on a weekend.“From Monday to Friday, I have an agreement with my wife that I can dedicate any amount of time to my work, as long as I’m there for breakfast and see the children,” said Erik Stoel in an interview with The Korea Herald on Wednesday.“When I’m in the office, I’m focused on what I need to do at
April 29, 2016
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More self-made tech tycoons join billionaires’ club: Forbes
More self-made tech entrepreneurs are making it into the list of Korea’s 50 richest people, according to a report by Forbes magazine Wednesday. The report showed that 40 percent of the nation’s top 50 were self-made, as opposed to having inherited a business or wealth from their parents. The figure was a big increase from a decade ago when Forbes ranked just seven self-made entrepreneurs among its list of 40 richest Koreans.The increase is mainly attributed to the emergence of celebrity-status t
April 29, 2016
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Seoul to issue four more duty-free licenses
(Yonhap)The South Korean government said Friday that it will issue four additional licenses to operate duty-free shops in Seoul in a bid to meet rising demand from Chinese tourists for non-taxable goods.The Korea Customs Service (KCS) said it will pick four local retailers to let them open new duty-free shops in Seoul, adding to the current nine.Duty-free stores, mostly run by retail giants, such as Lotte Group, posted a combined 9.2 trillion won ($8 billion) in sales last year, with an average
April 29, 2016
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Shipyards' restructuring faces backlash from workers
Unionized workers of two major shipbuilders in South Korea are set on a collision course with top managers over how to restructure the embattled companies reeling from snowballing losses amid a longstanding business slump, sources said Friday.The labor union of Daewoo Shipbuilding & Marine Engineering Co. (DSME) is adamant against the government's demands for additional restructuring measures, while union workers at Hyundai Heavy Industries Co. are strongly protesting a job-cut plan, according t
April 29, 2016
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‘Koreans need more color to housing’: Mendini says
Koreans who seek fulfillment in their lifestyle need to add more colors to their homes, said eminent Italian designer and architect Alessandro Mendini in an interview with The Korea Herald on Thursday. “Korean apartment buildings, which are stereotyped as gloomy gray and rectangle, have hardly changed since I first came here 15 years ago,” Mendini, who has visited Korea around 40 times during the period, said in an interview at POSCO Engineering & Construction’s headquarters in Songdo. The Itali
April 28, 2016
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Urban grannies: Sassy seniors emerge as key consumer group
Breaking the traditional image of senior citizens in Korea, a growing number of grannies are seeking sophisticated and elegant lifestyles as well as quality personal time of their own rather than being tied up with taking care of their grandchildren.Market insiders here are closely monitoring the rise of so-called urban grannies, classifying them as a new consumer group, capable of purchasing luxury and high-quality products.A cover of a fashion magazine featuring Carmen Dell’Orefice, a 86-year-
April 28, 2016
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[Consumer This Week] Ikea, McDonald’s, CNP Cosmetics
Ikea launches wireless charging furniture in KoreaIkea Korea has launched a wireless-charging furniture collection that lets users charge their smartphones simply by placing their devices on built-in charging docks. Ikea’s smart furniture collection includes a range of bedside tables, floor and table lamps as well as a do-it-yourself kit that lets users embed wireless chargers into any furniture of their choice.All of Ikea’s wireless chargers are based on Qi wireless charging -- a global standar
April 28, 2016
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LS chairman seeks ideas for growth abroad
LS Group chairman Koo Cha-yol has made frequent overseas trips this month as part of his efforts to seek ideas for new growth engines, group officials said Thursday.The group is a Korean industrial giant composed of numerous affilates including LSIS, an electrical equipment manufacturer, and LS Cable & System, a cable and power system provider. LS Group chairman Koo Cha-yol (center) listens to Ralf Christian (right), CEO of Energy Management Division at Siemens, during Hannover Messe this week.
April 28, 2016
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Hanwha instills traditional values to children
Hanwha Group has made progress in instilling traditional values to children through its culture and arts education project Hanwha Art Plus, group officials said Thursday. Hanwha Art Plus is a cooperative project being pushed by the conglomerate and the Korea Mecenat Association, a non-profit agency that supports corporate encouragement of the arts. It started out in 2009 as a social contribution project to support arts education with a focus on tradition. Elementary students learn how to play th
April 28, 2016
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Maeil Dairies offers farm experience in Gochang
Maeil Dairies Industry, South Korea’s leading manufacturer of dairy products, opened a new farm experience park in Gochang County, North Jeolla Province, last week, with the aim of promoting Korea’s agricultural business. The “Sangha Farm” was built with an investment of around 37 billion won ($32.44 million) by Maeil, in conjunction with Gochang County and the Ministry of Agriculture, Food and Rural Affairs. Maeil Dairies Industry CEO Kim Seon-hee (left) and government and company officials pa
April 28, 2016